LOC Sublimit definition

LOC Sublimit means an amount equal to the lesser of (a) the aggregate amount of the Revolving Commitments; provided, that the Issuing Lender’s LOC Sublimit shall not exceed its LOC Commitment and (b) $50,000,000. The LOC Sublimit is part of, and not in addition to, the Revolving Commitments.
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LOC Sublimit means ONE HUNDRED FIFTY MILLION DOLLARS ($150,000,000). The LOC Sublimit is part of the Revolving Committed Amount.
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LOC Sublimit shall have the meaning set forth in Section 2.3(a).
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Examples of LOC Sublimit in a sentence

  • Immediately after giving effect to the making of any such Extension of Credit (and the application of the proceeds thereof), (i) the Aggregate Revolving Exposure shall not exceed the Revolving Committed Amount then in effect, (ii) the outstanding LOC Obligations shall not exceed the LOC Sublimit and (iii) the outstanding Swingline Loans shall not exceed the Swingline Sublimit.

  • In the event an LOC Sublimit Adjustment results in the total Advances then outstanding being greater than the new Applicable Revolving Credit Sublimit, then Obligors shall reduce the outstanding principal balance of the Advances below the new Applicable Revolving Credit Sublimit as a condition to the effectiveness of the LOC Sublimit Adjustment.

  • In the event Obligors make more than one LOC Sublimit Adjustment in a calendar quarter, Obligors shall pay a fee equal to $2,000.00 for each such additional LOC Sublimit Adjustment in such calendar quarter.

  • If the Revolving Committed Amount is reduced below the then current LOC Sublimit, the LOC Sublimit shall automatically be reduced by an amount such that the LOC Sublimit equals the Revolving Committed Amount.

  • Immediately after giving effect to the making of any such Extension of Credit (and the application of the proceeds thereof), (i) the sum of outstanding Revolving Loans plus outstanding Swingline Loans plus LOC Obligations shall not exceed the Revolving Committed Amount, (ii) the LOC Obligations shall not exceed the LOC Sublimit and (iii) the Swingline Loans shall not exceed the Swingline Sublimit.

  • Obligors shall have the right, at any time, and from time to time, during the Revolving Credit Advance Term, to adjust the Applicable Letter of Credit Sublimit upon five (5) Business Days written notice to Lender, up to the Revolving Credit Loan Commitment (herein the "LOC Sublimit Adjustment").


More Definitions of LOC Sublimit

LOC Sublimit shall have the meaning set forth in Section 2.3(a). For the avoidance of doubt, the LOC Sublimit shall be part of, and not in addition to, the aggregate Commitments.
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LOC Sublimit means TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000). The LOC Sublimit is part of the Revolving Committed Amount.
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LOC Sublimit means Twenty Million Dollars ($20,000,000).
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Related to LOC Sublimit

  • L/C Sublimit has the meaning ascribed to it in Annex B.

  • LC Sublimit means $500,000,000.

  • Swingline Sublimit means an amount equal to the lesser of (a) $5,000,000 and (b) the Revolving Facility. The Swingline Sublimit is part of, and not in addition to, the Revolving Facility.

  • Issuing Bank Sublimit means, as of the Effective Date, (i) $10,000,000, in the case of Chase and (ii) in the case of any other Issuing Bank, such amount as shall be designated to the Administrative Agent and the Borrower in writing by such Issuing Bank; provided that any Issuing Bank shall be permitted at any time to increase or reduce its Issuing Bank Sublimit upon providing five (5) days’ prior written notice thereof to the Administrative Agent and the Borrower.

  • Swing Line Sublimit means an amount equal to the lesser of (a) $50,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.